On Wednesday, President Joe Biden announced an extension of the student loan moratorium, according to the Associated Press.

The pause on student loan payments, as well as loan interest, is extended to May 1, 2022. It was previously set to expire Jan. 31, 2022. For graduates who might be concerned about paying back student loans during uncertain economic times, this moratorium freezes mandatory payments on federal student loans.

This announcement follows additional COVID-19 plans announced by President Biden on Dec. 22, according to the White House. Plans include free access to at-home COVID-19 tests and new centers to provide testing and vaccination.